Britam Holdings PLC, a diversified financial services group with operations in 7 African countries, is setting the pace with its new investment product called Imarika. The first of its kind, Imarika offers competitive returns and a free life insurance cover of Sh50,000. Interestingly, the product is suitable for people from 18 to 75 years of age, making it an appealing product to the youth.
According to Njeri Jomo, Britam’s product manager, Imarika was designed to solve the technical, mortality-oriented, and lengthy period nature of traditional life policies. That means that Britam is offering customers an easy-to-understand product that emphasises thriving through investment as opposed to the loss of life. The product is also available for a minimum period of 5 years.
“The launch of Imarika is an indication of the direction life insurance is going. […] The aim of this product is to tap into the potential that lies in the market,” Dr Benson Wairegi, Britam’s Group Managing Director said.
The flexible nature of Imarika, where the minimum contribution that can be made is Sh1,000, means that young people can begin investing as early as possible and enjoy superior returns of between 8 and 12 percent per year. Additionally, registration, sending money, and view account balances can be done via a mobile phone. To that end, Britam’s new product is convenient, affordable, and worth it in the short-term and in the long-term.
Imarika also comes in different variants where you can purchase a home, wedding, biashara, chama, and travel plan. To register for Imarika, dial *778# or visit buyonline.britam.com.
